The
Kuwait lifting equipment market will shrink significantly to USD X in 2021, a decrease of -X% from the previous year. However, during the period under review, consumption grew strongly.
Lifting equipment consumption peaked at $X in 2020 before falling sharply the following year.
In value terms, hoisting equipment production fell rapidly to an estimated $X at export prices in 2021. Overall, however, there has been a significant increase in production. The fastest growth was recorded in 2014, with production increasing by X% over the previous year. Lifting equipment production peaked at $X in 2020 before declining significantly the following year.
Kuwait’s lifting equipment export scale
In 2021, Kuwait’s hoisting equipment exports decreased to X units, a -X% decrease from the 2020 figure. However, exports continued to show strong growth during the period under review. The growth rate was most pronounced in 2017, with an X% increase. As a result, exports peaked at X units. From 2018 to 2021, the growth rate of exports will remain at a low level.
In value terms, hoisting equipment exports contract sharply to $X in 2021. But overall, exports continued to grow significantly. 2017 appears to have seen the fastest growth, with an X% increase over the previous year. Exports peaked at $X in 2020 and then contracted significantly the following year.
The United Arab Emirates (X units) is the main destination for Kuwait’s lifting equipment exports, accounting for approximately X% of total exports.
From 2012 to 2021, the average annual growth rate of cargo traffic to the United Arab Emirates totals +X%. In terms of value, the United Arab Emirates ($X) remains the main foreign market for Kuwait’s lifting equipment exports.
From 2012 to 2021, the average annual growth in value to the United Arab Emirates totals +X%.
Import scale of hoisting equipment in Kuwait
In 2021, the number of hoisting equipment imported by Kuwait soared to X units, an increase of X% compared to 2020. During the period under review, however, there was a sharp drop in imports. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.
Lifting equipment imports surge to $X by value in 2021. But overall, imports continue to show a marked contraction. Imports peaked at $X in 2019; however, imports were slightly lower from 2020 to 2021.
In 2021,
Saudi Arabia (X units) is the main lifting equipment supplier to Kuwait, accounting for X% of total imports. In addition, the import of lifting equipment from Saudi Arabia was more than ten times higher than the number recorded by the second largest supplier, the United Arab Emirates (X units).
From 2012 to 2021, Saudi Arabia’s sales volume will grow at an average annual rate of +X%.
Saudi Arabia ($X) is the largest lifting equipment supplier to Kuwait by value, representing X% of total imports. In second place is the United Arab Emirates ($X) with X% of total imports. Average annual value growth in Saudi Arabia from 2012 to 2021 was relatively modest.
Statistics of various crane suppliers in Kuwait
Saudi Arabia is Kuwait’s largest lifting equipment supplier by value, accounting for 3.7% of total imports. In second place is the United Arab Emirates, which accounted for 1.2% of total imports.
In terms of value, the United Arab Emirates remains the main foreign market for Kuwait’s lifting equipment exports.
The average export price of hoisting equipment in 2021 is $12,288 per unit, down -6.9% from the previous year.
The average import price of hoisting equipment in 2021 is $3,633 per unit, down -39.8% from the previous year.
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Kuwait: Lifting Equipment Market Analysis 2022